Ohio SB116 reduces the tangible personal property tax rate for pipeline companies.

Ohio SB116 amends the state's Revised Code to reduce the tax rate for tangible personal property of pipeline companies. The bill sets the assessment rate at 25% for pipeline companies, effective starting in tax year 2025. This change applies to the taxable property of public utilities and interexchange telecommunications companies, excluding railroad companies.

Ohio SB116 reduces the tangible personal property tax rate for pipeline companies.

Ohio SB116 amends the state's Revised Code to reduce the tax rate for tangible personal property of pipeline companies. The bill sets the assessment rate at 25% for pipeline companies, effective starting in tax year 2025. This change applies to the taxable property of public utilities and interexchange telecommunications companies, excluding railroad companies.